The Gerontologist, Vol 36, Issue 3 400-405, Copyright © 1996 by The Gerontological Society of America
Reverse mortgages and the economic status of elderly women
BA Morgan, IF Megbolugbe and DW Rasmussen
Policy Sciences Center, Florida State University, Tallahassee 82306- 2018, USA.
Data from the 1990 Census of Population and Housing are used to estimate
the potential demand for reverse mortgages among elderly women
householders. A reverse mortgage product is simulated using parameters
based on the Home Equity Conversion Mortgage insurance demonstration, and
its effect on poverty and income distribution among this group is
calculated. Approximately 1.8 million women with low incomes and home
equity of $40,000 and above could see a significant increase in income
under such a program.